All Employees: Legal Services in Washington
SMU53000006054110001A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
21.30
Year-over-Year Change
1.91%
Date Range
1/1/1990 - 1/1/2024
Summary
This economic trend tracks the total number of employees in the legal services industry in Washington, D.C. It provides valuable insights into the size and growth of the legal sector in the nation's capital.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The All Employees: Legal Services in Washington metric measures the total number of individuals employed in the legal services industry within the Washington, D.C. metropolitan area. This data point is widely used by economists and policymakers to analyze trends in the local job market and professional service sectors.
Methodology
The data is collected through surveys of businesses and establishments conducted by the U.S. Bureau of Labor Statistics.
Historical Context
This employment trend is relevant for understanding the economic health and labor dynamics of the legal industry in the D.C. region, which is home to many influential law firms, government agencies, and policy institutions.
Key Facts
- Washington, D.C. is a major hub for legal services employment.
- The legal sector is a significant contributor to the D.C. regional economy.
- Employment in legal services has seen fluctuations over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total number of individuals employed in the legal services industry within the Washington, D.C. metropolitan area.
Q: Why is this trend relevant for users or analysts?
A: The legal services employment trend provides valuable insights into the size and dynamics of the professional services sector in the nation's capital, which is critical for understanding the regional economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and establishments conducted by the U.S. Bureau of Labor Statistics.
Q: How is this trend used in economic policy?
A: This employment trend is used by economists, policymakers, and analysts to monitor the health and growth of the legal industry in the Washington, D.C. region, which is home to many influential law firms, government agencies, and policy institutions.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential limitations of the U.S. Bureau of Labor Statistics' establishment surveys.
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Citation
U.S. Federal Reserve, All Employees: Legal Services in Washington (SMU53000006054110001A), retrieved from FRED.